Debt (Tables)

9 Months Ended

Sep. 30, 2024

Debt [Line Items]

Schedule of Current Credit Facilities and Finance Lease Obligations

Current credit facilities and finance lease obligations consist of the following:

	September 30,			December 31,
	2024			2023
Current Credit Facility - Revolver	$	11,437,000		$	10,804,000
Current Credit Facility - Term Loan		5,401,000			5,045,000
Solar Credit Facility		899,000			393,000
Finance lease obligations		1,061,000			884,000
Loans Payable - financed assets		16,000			22,000
Subtotal		18,814,000			17,148,000
Less: Current portion		(17,066,000	)		(16,036,000	)
Long-Term Portion	$	1,748,000		$	1,112,000

Schedule of Payments Due Under the Term Loan

The below table shows the timing of payments due under the Term Loan:

For the year ending	Amount
December 31, 2024 (remainder of year)	$	203,000
December 31, 2025		5,225,000
Term Loan payable		5,428,000
Less: debt issuance costs		(27,000	)
Total Term Loan payable, net of debt issuance costs		5,401,000
Less: Current portion of Term Loan payable		(5,401,000	)
Total long-term portion of Term Loan payable	$	-

Schedule of Finance Lease Obligations

The obligations for the finance leases totaled $1,061,000 and $884,000 as of September 30, 2024 and December 31, 2023, respectively. The leases have an average imputed interest rate of 7.44% per annum and are payable monthly with the final payments due between September of 2026 and May of 2030.

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2024		2023		2024		2023
Finance Lease cost:
Amortization of Right-of-Use assets	$	49,000	$	21,000	$	128,000	$	46,000
Interest on lease liabilities		20,000		17,000		53,000		33,000
Total lease Costs	$	69,000	$	38,000	$	181,000	$	79,000
Other Information:
Cash Paid for amounts included in the measurement lease liabilities:
Financing cash flow from finance lease obligations	$	51,000	$	39,000	$	143,000	$	84,000
Supplemental disclosure of non-cash activity
Acquisition of finance lease asset	$	-	$	679,000	$	319,000	$	679,000

Schedule of Weighted Average Remaining Lease Term and Discount Rate

	September 30,			December 31,
	2024			2023
Weighted Average Remaining Lease Term - in years		5.0			5.4
Weighted Average Discount rate - %		7.44	%		7.31	%

Schedule of Future Minimum Finance lease Payment

As of September 30, 2024, the aggregate future minimum finance lease payments, including imputed interest are as follows:

For the year ending	Amount
December 31, 2024 (remainder of year)	$	73,000
December 31, 2025		291,000
December 31, 2026		266,000
December 31, 2027		190,000
December 31, 2028		190,000
Thereafter		264,000
Total future minimum finance lease payments		1,274,000
Less: imputed interest		(213,000	)
Less: Current portion		(219,000	)
Long-term portion	$	842,000

Schedule of Annual Maturities

The future minimum loan payments are as follows:

For the year ending	Amount
December 31, 2024 (remainder of year)	$	3,000
December 31, 2025		9,000
December 31, 2026		4,000
Loans Payable - financed assets		16,000
Less: Current portion		(9,000	)
Long-term portion	$	7,000

Schedule of Related Party Notes Outstanding as of the Notes

The Related Party Notes outstanding as of the notes of September 30, 2024 and December 31, 2023 consist of:

	Michael Taglich, Chairman		Robert Taglich, Director		Taglich Brothers, Inc.		Total
Convertible Subordinated Notes	$	2,666,000	$	1,905,000	$	241,000	$	4,812,000
Subordinated Notes		1,000,000		350,000		-		1,350,000
Total	$	3,666,000	$	2,255,000	$	241,000	$	6,162,000